Pages:
Author

Topic: Blockchain losses over $13.6 billion due to hacker attacks - page 2. (Read 327 times)

staff
Activity: 3304
Merit: 4115
Common tactic; Brand multiple industries under one name; in this instance the Blockchain, and make it sound like the Blockchain is inherently insecure trying to influence the market. I understand clickbait gets traffic, but its one of the reasons I tend to avoid the news as much as possible these days.  
Blockchain industry? is there even such a thing?

Money lost? Is there even a loss when coins change hands? When you unlawfully take a coin from one user you don't make the industry lose money. You make the user lose money, but you are another user who gains money. Everything remains in balance.

I feel like OP is saying that car industry has lost money due to privately owned cars being stolen. The industry doesn't care if a thief steals a car somewhere. The car will be sold on the market and someone else will keep on driving it.
Not really, unless you classify anything that uses a "Blockchain" which would be a huge market. This would involve games, gambling sites, exchanges, basically everything including alternate coins.

Its not a loss for the currency, and therefore the majority are unaffected, except for temporary changes in the price due to the news impact. Although, I do get your point with the car industry example, I would argue that we should care if there are large amounts of thefts happening within the cryptocurrency market. Although, I would like to add that Bitcoin; has much less thefts than traditional currencies, even if you compare it on a ratio basis. This might be due to the "infancy" of Bitcoin, but its quite apparent that the alternate coins industry is far more vulnerable to shady practices, even from the developers themselves.
legendary
Activity: 2912
Merit: 1068
WOLF.BET - Provably Fair Crypto Casino
Hackers are always after something valuable and Bitcoin is not exception. And it's still easier and less risky to still Bitcoin than fiat money and it's much harder to trace it.
Hackers attacks are increasing and we might expect this trend to continue especially if Bitcoin value will rise and exchanges are especially vulnerable.
hero member
Activity: 2184
Merit: 531
Blockchain industry? is there even such a thing?

Money lost? Is there even a loss when coins change hands? When you unlawfully take a coin from one user you don't make the industry lose money. You make the user lose money, but you are another user who gains money. Everything remains in balance.

I feel like OP is saying that car industry has lost money due to privately owned cars being stolen. The industry doesn't care if a thief steals a car somewhere. The car will be sold on the market and someone else will keep on driving it.
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
"Blockchain hack" sounds like including those blockchain related companies? and does it mean that the particular cryptocurrency "blockchain" has been hacked?
Why don't just use "cryptocurrency hack" its more understandable since the study mainly talking to the "money" that was hacked/lost.
member
Activity: 476
Merit: 31
330 attacks are too many.  As Bitcoin becomes more valuable, such attacks may increase.  The security network should be constantly renewed against such hacking attacks.  Especially stock exchange sites should improve themselves in terms of security.  should devote a significant amount to the defense part.  Thanks for informations.
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
Is the $13.6bn based on current time or the time. The coins were stolen? I think a lot of funds were lost in the mtgox "hack" and the binance "hack".

Most exchanges have been hit with hacks of currencies by now so I don't think it's surprising do many have been stolen..

(PS also the current title makes it look like blockchain.com and not the blockchain industry).
legendary
Activity: 2618
Merit: 1504
A study of the Atlas VPN service says that the blockchain industry has lost $13.6 billion since 2012 due to hacker attacks.



According to the researchers, 330 such attacks were carried out, and attackers preferred decentralized applications (dapps) on the EOS blockchain — 117 successful attacks. The total amount of damage was about $28.2 million.

In the Ethereum ecosystem, 33 attacks on dapps were recorded, which brought attackers $364 million. Cryptocurrency exchanges have been subjected to 87 successful attacks-the damage from them reached $4.8 billion.
Digital asset storage services faced 36 attacks, with losses totaling $7.19 billion. Over eight years, hackers earned $45.8 million from 28 blockchain hacks.



From January to June 2019, the blockchain industry was subjected to 94 successful hacker attacks. In the first half of 2020, this figure fell to 31.



The full report is available here: https://atlasvpn.com/blog/blockchain-hackers-have-stolen-over-13-6-billion-in-330-hack-events
Pages:
Jump to: